Self-employed directors
The borrowers
Richard and Julie are 50 & 51 and married with three children living at home. They have fluctuating and multiple sources of income from their established plumbing business. Unfortunately, a small issue with HMRC four years ago due to a rogue accountant means their credit rating has taken a hit.
- They want to raise an additional £50k on their existing £200k to improve their 4-bed house in Essex worth £650k.
- Richard has been self-employed for 6 years and earns around £50k per annum however last year his net profit was only £15k due to his business purchasing new machinery. He has decided not to take any dividends this year but to leave the money in the business.
- Julie takes a £5k dividend plus £15k and £2.5k from two part time PAYE roles.
How we can help
Because we specialise in mortgages for people with complex incomes from multiple sources, and particularly for self-employed people where we can look at latest years accounts and take the net profit or the dividends, we may be able to help your clients like this. We offer a cascade of rates to suit clients credit levels, from those who just miss out on high street lending to those with credit blips, and we allow capital raising.
We love to talk a case through, why not call your Foundation Regional Area Manager today?
